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Sponsors
34 Multi-sponsors
- Thomas Alfano
- James Bacalles
- Greg Ball
- William A. Barclay
- Robert Barra
- Phil Boyle
- Daniel Burling
- Marc Butler
- Nancy Calhoun
- James Conte
- Clifford Crouch
- Janet Duprey
- Gary Finch
- Michael J. Fitzpatrick
- Joseph Giglio
- Stephen Hawley
- James Hayes
- Brian Kolb
- Peter Lopez
- David McDonough
- Thomas McKevitt
- Marcus Molinaro
- Robert Oaks
- Thomas F. O'Mara
- Jack Quinn III
- Ann Rabbitt
- Andrew Raia
- Bill Reilich
- Joseph Saladino
- Teresa Sayward
- Dierdre Scozzafava
- Mike Spano
- Fred Thiele
- Louis Tobacco
History
- Referred to ways and means
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A10526
Title of bill
An act to amend the tax law, in relation to reducing the tax on petrole- um businesses and the sales and compensating use taxes on the retail sales of motor fuel and diesel motor fuel
Purpose or general idea of bill
This bill reduces the Petroleum Business Tax and State Sales Tax on qualified motor fuel and diesel motor fuel by half.
Summary of specific provisions
Section 1. Amends subdivision (a) of Section 301 of the Tax Law to reduce the Petroleum Business Tax on qualified motor fuel and diesel motor fuel by fifty percent.
§2. Amends subdivision (a) of Section 301-f the Tax Law to reduce the Petroleum Business Tax on qualified motor fuel and diesel motor fuel by fifty percent.
§3. Amends subdivision (a) of Section 301-j of the Tax Law to reduce the Petroleum Business Tax on qualified motor fuel and diesel motor fuel by fifty percent.
§4. Amends subdivision (m) of Section 1111 of the Tax Law to reduce the Sales and Compensating Use Tax on qualified motor fuel and diesel motor fuel to four cents per gallon.
§5. Provides the effective date.
Justification
The cost of motor fuel in the State of New York is consistently higher than the average for the states in the Northeast. This bill would reduce taxes on motor fuel to bring prices more in line with those that are paid by consumers in other neighboring states.
Prior legislative history
2008: A.9211; Held for consideration in Ways and Means 2007: A.9211; Referred to Ways and Means
Fiscal implications
This tax decrease will reduce revenues by approximately $570 million in Petroleum Business Tax Revenue and $270 million in Sales Tax revenue, annually.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.